Global Virtual Inspection Market 2016-2020

Outlook of the global virtual inspection market

Technavio’s market research analyst predicts the global virtual inspection market to grow at a CAGR of around 9% during the forecast period. The increasing focus on industrial automation is the primary growth driver for this market. Due to growing investments in automated surface vision and inspection technologies, companies can bring down the total cost of production by improving their technological capabilities. The virtual inspection software and high-quality cameras analyze the surface of materials, components, and parts to accurately identify defects. The semiconductor industry derives great benefits from this solution as it needs a high degree of attention while making electronic chips. As a result, it can be estimated that this industry will be the largest contributor to the virtual inspection market during the forecast period.  

In this market research, analysts have estimated the Americas to be the largest market for virtual inspection technologies during the forecast period. At present, this region accounts for nearly 35% of the total market share but is anticipated to witness a slight decline in its overall market share as many manufacturers from North America and Europe are shifting their operating units to regions like APAC to leverage the benefits of low-cost labor.

Segmentation by product category and analysis of the virtual inspection market

• Camera
• Hardware
• Software
• Optics

Due to the on-going demand for software solutions, the software and hardware segments are envisaged to witness the fastest growth rate during the forecast period. However, in this market study, analysts have estimated the camera product segment to be the largest revenue contributor during the forecast period. Due to technological advances and continuous improvements in microchip technology, manufacturers have been able to produce more reliable, compact, and cheaper cameras. The advent of such cost-effective cameras will bolster the prospects for market growth until 2020.

End-user segmentation of the virtual inspection market

• 3D printing
• Automotive and CPG
• Electronics
• Oil and gas
• Pharmaceuticals
• Semiconductor

In 2015, the semiconductor segment accounted for the largest market share in the global virtual inspection market. Due to the rising demand for testing applications of fabricated systems and chips, the semiconductor manufacturing industry is envisaged to remain the largest end user of virtual inspection systems until the end of 2020.

Competitive landscape and key vendors

Due to the presence of many providers in this market, the application testing services segment has become the fastest growing market segment during the forecast period. AMETEK, Adept Technology, and Edmund Optics are the leading software testing service providers. In this market, it has been observed that many companies are forming partnerships with niche players to improve their software tool packages and enhance their ongoing innovations.

Key vendors in the market are -

• Adept Technology
• Ametek
• Edmund Optics

Other prominent vendors in the market include Konica Minolta, Elbit Vision Systems, Electron Scientific Industries, EPIC Systems, IMS Systems, Matrox Imaging, ISRA Vision, BST Eltromat International, Jenoptik, Verisk Analytics, and Microscan Systems.

Key questions answered in the report include

• What will the market size and the growth rate be in 2020?
• What are the key factors driving the global virtual inspection market?
• What are the key market trends impacting the growth of the global virtual inspection market?
• What are the challenges to market growth?
• Who are the key vendors in this market space?
• What are the market opportunities and threats faced by the vendors in the global virtual inspection market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global virtual inspection market?

Technavio also offers customization on reports based on specific client requirement.

Related reports:

• Global Cloud Infrastructure Testing Market 2015-2019
• Global Next Generation Firewall (NGFW) Market 2015-2019